National Average Fuel Prices

By: Bubbajunk.com

The average price of diesel fuel climbed 22.6 cents to a new record of $4.723 per gallon Monday, May 26. The average price, up 76.8 cents in seven weeks, is now $1.906 higher than this week last year, according to information from the Department of Energy. 

The 22.6 rise is the third largest single week increase in history. No. 1 followed Hurricane Katrina with several oil refineries going offline. No. 2 spiked in the wake of Hurricane Rita. Of the top ten single week price increases, 6 are from 2008, with 3-5 happening in May. There have also only been 20 double digit increases recorded, and 9 of them have happened this year. The U.S. average price has stayed above $4 for seven weeks.

The DoE has tracked increases in price in all regions. The largest increase was on the West Coast at 27.3 cents which brought prices up to $4.883. The lowest rise was in the Midwest at 20.4 cents which brought prices up to 4.667.

The most expensively priced region, the Central Atlantic at $4.913, had prices rise 23.1 cents. California is tracked separately by the DoE, and recorded the nation's first $5 price. Prices in California rose 29.0 cents last week. The least expensive diesel can be found in the Rockies, at a $4.653 average, where prices climbed just 21.1 cents this week.